The following is a press release from Santee Cooper:
The Santee Cooper Board of Directors authorized today a two-year rate adjustment for customers in 2016 and 2017 with an average annual increase between the two adjustments of approximately 3.7 percent. The board took no action on a proposed 2018 rate adjustment.
Based on customer comments and management recommendations, the board approved minor modifications to the original rate proposal made in June, specifically impacting industrial customers and outdoor lighting rentals. The board also approved modifications lowering fees for customers who install solar panels at home or work.
The 2016 rates will take effect on April 1, and the 2017 rates will be effective April 1, 2017. These adjustments will help Santee Cooper meet increased costs as a result of a slower than expected load growth following the latest recession and the ongoing V.C. Summer Nuclear Station expansion.
"In considering this rate proposal, the board reviewed an independent rate analysis, management's recommendations, and the comments and input we received from the public," said Santee Cooper Chairman Leighton Lord. "I know times continue to be challenging for many of our customers. This will be Santee Cooper's first rate increase since 2013, thanks to significant success controlling costs over the past few years. Santee Cooper remains committed to delivering reliable, affordable and environmentally responsible electricity to customers."
The rate adjustment affects residential, commercial, industrial, municipal and lighting customers. More specific information can be found at www.santeecooper.com/rates.
Santee Cooper is South Carolina's largest power producer, largest Green Power generator and the ultimate source of electricity for 2 million people across the state. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper powers South Carolina. To learn more, visit www.santeecooper.com.
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